Needham raised the firm’s price target on Zscaler (ZS) to $310 from $240 and keeps a Buy rating on the shares. The company reported another strong quarter, once again outperforming Billings expectations, the analyst tells investors in a research note. Zscaler’s platform expansion and go-to-market changes under Chief Revenue Officer Mike Rich are taking hold as the company looks to emulate the ServiceNow (NOW) model by driving deeper, more strategic relationships with customers while gaining greater wallet-share, the firm added.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ZS:
- Zscaler price target raised to $300 from $260 at Truist
- Airbnb, Zscaler downgraded: Wall Street’s top analyst calls
- Zscaler price target raised to $310 from $242 at Scotiabank
- Zscaler price target raised to $295 from $233 at BMO Capital
- Morning Movers: Trump says China ‘totally violated’ trade agreement